HMV has implemented a new e-procurement platform from Wax Digital, in a bit to cut costs and improve sourcing.

The high street entertainment retailer, which is seeing its business hit hard by falling DVD and music sales and the continued growth of internet stores, said improved sourcing was crucial to its business prospects.

In recent years, HMV has moved to cut down its back office and IT functions, and centralise procurement.

HMV is now running the Wax Digital web3 platform, which replaces Ariba Sourcing. It is also using an expenditure analysis platform from DU360.

"We intend to make e-Auctions accessible and standard practice for all of our buyers," said Paul Barker, procurement manager at HMV. The platform was "highly intuitive", he said.

HMV is using web3 to cover expenditure on all goods, starting with print, stationery and other large cost areas.